Mason Graphite Provides Update on Permitting Process

MONTREAL, QUEBEC–(Marketwired – Sept. 7, 2017) – Mason Graphite Inc. (“Mason Graphite” or the “Company”) (TSX VENTURE:LLG)(OTCQX:MGPHF) announces that it has been informed by the Ministry of Développement durable, Environnement et Lutte contre les changements climatiques (MDDELCC) that a public hearing mandate has been given to the Bureau des audiences publiques en environnement (BAPE) for the Lac Guéret graphite project. The hearing process, with a maximum duration of 4 months, will start on September 25^th. To the Company’s knowledge, no mining project in Quebec was ever able to avoid this phase. This is the last step in the permitting process before the recommendation by the Minister of MDDELCC to the provincial government cabinet on the decree.
The Company will keep on being actively involved with all stakeholders and local communities. Furthermore, considering the warm reception by the population and the full support of the Pessamit First Nation, as evidenced by the recently announced Impact Benefit Agreement, the Company believes that the project should not face any other hurdle in the remaining permitting steps.
Notwithstanding this hearing process, the Company had already launched and continues several actions usually undertaken only after obtaining the final authorizations, such as the procurement of major equipment and hiring of key personnel. The detailed engineering, ongoing for the last few months, and sufficiently advanced to be construction ready in certain sectors this fall, carries on following the initial schedule. The suppliers of the main process equipment have been selected and orders for the equipment engineering have been placed.
The construction of the new segment of highway 389 being built by the Government, at this time only for Mason Graphite, is advancing well; the road and related services should be completed by the end of 2017.
Benoît Gascon, President and CEO of Mason Graphite commented: “We have spent a lot of time with the local communities and when we made our last presentation, part of the BAPE process, it was clear that the attendees were already well informed on the project and highly receptive. Clearly, the populations of Baie-Comeau and Pessamit are eager to see this project get off the ground.”
About Mason Graphite and the Lac Guéret Project
Mason Graphite is a Canadian mining and processing company focused on the development of its 100% owned Lac Guéret natural graphite deposit located in northeastern Québec. The Company is led by a highly experienced team that has over five decades of experience in graphite production, sales, and research and development. For more information, visit www.masongraphite.com.
Mason Graphite Inc. On Behalf of the Board
“Benoît Gascon, CPA, CA”, President & Chief Executive Officer
Cautionary Statements
This press release contains “forward-looking information” within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: (i) volatile stock price; (ii) the general global markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk associated with exploration, development and operations of mineral deposits; (v) the risk associated with establishing title to mineral properties and assets; (vi) the risks associated with entering into joint ventures; (vii) fluctuations in commodity prices; (viii) the risks associated with uninsurable risks arising during the course of exploration, development and production; (ix) competition faced by the resulting issuer in securing experienced personnel and financing; (x) access to adequate infrastructure to support mining, processing, development and exploration activities; (xi) the risks associated with changes in the mining regulatory regime governing the resulting issuer; (xii) the risks associated with the various environmental regulations the resulting issuer is subject to; (xiii) risks related to regulatory and permitting delays; (xiv) risks related to potential conflicts of interest; (xv) the reliance on key personnel; (xvi) liquidity risks; (xvii) the risk of potential dilution through the issue of common shares; (xviii) the Company does not anticipate declaring dividends in the near term; (xix) the risk of litigation; and (xx) risk management.
Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, no material adverse change in metal prices, exploration and development plans proceeding in accordance with plans and such plans achieving their stated expected outcomes, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company’s business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this press release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.
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